WDC is trading at $291.26 (+3.07%) amid a strong tech sector rebound as investors buy the dip following a 4.1% rally in the Technology Select Sector SPDR.
- The Nasdaq is up 1.05% today, aligning with Western Digital's 62.3% gain over the past three months.
- Momentum is supported by a recent Q2 gross margin beat to 46.1% and Q3 guidance of 47-48%.
- The company is also moving forward with a senior notes redemption scheduled for February.